CBRE has arranged the $53 million sale of Chambers Reserve, a 125-unit townhome community in Lacey. The newly constructed property adds built-to-rent housing stock in the Puget Sound region, where demand for larger rental formats has been growing.
The CBRE team of Jordan Louie, Eli Hanacek, Kyle Yamamoto and Natalie Kasper represented the seller in the transaction. According to Louie, investors were drawn to the opportunity to acquire a recently delivered built-to-rent community in a growth market, supported by the property’s design, amenities and location near major employment centers.
Chambers Reserve is situated at 3725 Wildspitz St. SE on an 8.33-acre site with direct access to Interstate 5. The location connects residents to Olympia, Tacoma and the broader Puget Sound region, positioning the community within commuting distance of several employment hubs and regional amenities.
Completed in 2023, the property comprises 23 townhome buildings featuring a mix of three- and four-bedroom floor plans. The homes average 1,736 square feet, offering larger layouts than typical apartment units and appealing to renters seeking additional living space in a rental setting.
Community and in-unit amenities at Chambers Reserve include two-car garages and private decks, which enhance resident parking and outdoor space options. The residences are equipped with air conditioning, quartz countertops and stainless steel appliances, reflecting contemporary interior finishes for the built-to-rent segment.
Shared amenities at the property include a 24-hour fitness center, providing around-the-clock access to workout facilities for residents. A seasonal swimming pool and a clubhouse further expand the recreational and social offerings on site, supporting lifestyle-focused demand within the community.
The combination of newer construction, larger floor plans and a range of amenities contributed to strong investor interest in the asset. With its location near Interstate 5 and proximity to multiple employment centers, Chambers Reserve is positioned as a rental option for residents who want townhome-style living with regional connectivity across the Puget Sound area.
